In an article by the New York Times, the Mexican government has initiated limitations on the import of used cars into the country, limiting them to the 1998 model years and earlier, because of the profit being made on the used United States vehicles. "The article gives an example of a used car dealer buying a 1974 Gran Torino in El Paso, Tex., for $100 with the expectation of selling it in Mexico for at least $400". At the heart of this used car sell-off frenzy, is the 1998 Ford F-150 pickup. Bernardo Garcia of Caribbean Auto Sales said "a 1998 extended cab F-150 in good condition previously might have sold for $5,000 at his lot. Now, it’s likely that the price may jump $500 to $700". The Mexican government is hoping that by limiting the vehicles to the 1998 model year, they will be helping Mexico not transform into the "world’s biggest automotive garbage dump".

Source: New York Times